Taking back Africa's wealth

Can the continent shift from resource dependency to industrial power? A new book explores a bold roadmap for reclaiming economic sovereignty

- Ahmet Sait Akcay

In 2019, The Economist magazine carried a cover story with the headline “The new scramble for Africa”, which heralded a new way of grabbing natural resources or, in other words, “soft power” on the continent.

Governments and businesses from all around the world are now willing to strengthen diplomatic, strategic and commercial ties with Africa. Among the new actors are Turkey, Japan and The Gulf countries, along with China and the US.

This cannot be seen simply as trade wars over Africa.

Often when African countries initiate their own economic policies, they are hampered by global challenges and restrictions. Afropessimist discourse has been invented to undermine democratic transitions in young, independent African countries in order to justify their continued exploitation.

Proxy wars will be waged over Africa as long as the continent remains dependent on foreign investment.

Africa seems to be appealing to the world again and recent strategies and diplomacies around the continent show the scope of this interest.

In May, American academic Walter Russell Mead raised issues on US policy on Africa and called for change. He pointed out that Africa has grown economically and this growth will continue. That is the reality.